DIGITAL TRANSFORMATION CONFERENCE
BANKING & FINTECH

DIGITAL TRANSFORMATION IN FINTECH & BANKING

Moderator: Daniela Serban, President, Romanian Investor Relations Association (ARIR)

REGULATORY & AUTHORITIES
Updates on legal and legislative frame, regulations and the authorities’ voice. Sector’s reforms and strategy, industry’s regulators and authorities’ revise and expectations. Risks & liabilities of different fintech solutions (such as peer- to peer lending platforms), regulations and data privacy updates.

DISRUPTIVE SOLUTIONS
The fast moving-companies, with an agile behavior and strong drive for innovation are the first to embrace, implement and even create new technologies. The disruptors in any industry, no matter how small or alien they may seem, have a potential that, in some flexible industries and services, can completely redesign the business model The real competition is on, the consumer is once again, the king.

COLLABORATIVE BUSINESS, MODELS & SHARED ECONOMY
The more shapeless the money becomes, the faster they circulate into the economy and inter-world economies. The financial organizations, banking, insurance finance, trade – lenders, insurers and asset managers - are challenged by the new consumer
behavior – spending, savings, investing, planning, trading - fast, easy and in multiple directions. The shared economy no longer refers only to shared hotel rooms and shared taxis, but also decentralized asset ownership. This means to use the information
technology and all the emerging tech tools to enable and ease the money flow between producers, retailers and end users of capital in a safe, easy and around the clock way. Banks and financial organizations are no longer intermediaries but enablers and innovators.

ROBO ADVISORS
On the spot and relevant conversational banking Chatbots, AI, digitalization, cloud, mobility become mainstream. Blockchain, digital money, disruption and innovation, the must-have. Although a highly regulated industry, finance and banking prove to be
one of the most innovative and responsive sectors when it comes to innovation in the consumer’s service. The direct lines with bank officers may be closed or forever busy but the chatbots will greet the consumers 24/7 with endless bits-based politeness and knowledge. Once applied and completely understood, blockchain will shake things up and can become the “public ledger”, fully integrated into the financial operations. AI and RPA are not anymore intruders, but enablers of an open conversation. But the openness also opens the gates to malevolence and that is why fintech companies are the first in line to defend their cyber-security.

CUSTOMER EXPERIENCE
Algorithms, IoT, Big Data and analytics are servicing the objectives of the finance industry and they become more and more the dialogue partner and the problem solver for consumers.
The companies in fintech and banking are now better addressing the needs of consumers, find them easier, anticipate their behavior faster.